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Deduction of TDS FY: 2020-21

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Preetam

sfsadf

41 Points Posted on 22 September 2021

If I am filing my return u/s 44AD (as a Individual). Now, for FY: 2020-21, I want to get my firm audited. I have paid freight and salary on which TDS was not deducted. If I get my firm audited now, do I have to also comply with TDS requirements for FY: 2020-21 or those need to be done from next FY?

Replies (2)

Quick Summary

This discussion clarifies TDS requirements when opting for a firm audit for FY 2020-21 after previously filing under Section 44AD. If no audit was applicable in the preceding year (19-20), TDS on payments like freight, commission, or rent isn't mandatory for FY 2020-21. However, TDS on salary must be deducted in the same financial year the TAN is obtained.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212444 Points Posted on 22 September 2021

At least for Salary the TDS deduction starts in the same financial year....

Once TAN obtained, you need to follow the same steps for other TDS deductions also...

CMA Poornima Madhava

CMA

13117 Points Posted on 23 September 2021

In respect of tds other than salary (like 194c/h/j/i etc) if no audit was applicable during preceding year (19-20), then no need to deduct tax at source.

No such exception in respect of tds on salary.